When it comes to car shopping, it’s not uncommon for young adults to turn to their parents for experienced tips and advice. But a new study from car buying platform Edmunds.com suggests that the younger, tech-savvy generation is quickly becoming a more educated and self-sufficient group of buyers due to their prolific use of mobile devices during the car shopping process. 

According to the study commissioned by Edmunds in early 2015, 73 percent of Millennials (age 18-34) said that they believe they are savvier car buyers than their parents. More than half of Millennial respondents also said they actively advise friends and family on the car buying process, compared to 37 percent of older Americans.  

One major reason for this is Millennials’ proficiency in using mobile devices to research before buying. The study found that Millennials especially turn to mobile for critical car shopping activities such as reading vehicle reviews (41 percent of Millennials vs. 20 percent of all other adults), locating vehicles for sale (34 percent vs 20 percent) and researching vehicle pricing (33 percent vs. 21 percent). Edmunds’ research concluded that 80 percent of Millennials 

used their mobile devices to help them with at least one car shopping task, compared to just 46 percent of people age 35 and over.

“Millennials today are informed car buyers,” said Avi Steinlauf, Edmunds.com CEO.  “They’re making the most out of the volume of information available at their fingertips, and it’s helping them to make a smarter car purchase. And since a smart car buyer is a quality car buyer, it all points to an optimistic and healthy future for the auto industry.” 

But while Millennials have a propensity toward using mobile devices during the car shopping experience, the study also pointed out that this group still heavily values the in-dealership experience. The study found that 64 percent of Millennials said that they prefer face-to-face interaction with dealers as opposed to remote communications, and an overwhelming 96 percent said that it is important to test drive the car before they buy it, debunking the myth that Millennials are making all of their car buying decisions on their phones.

Other noteworthy findings from the study include:

·         Millennials decidedly skew toward used cars when they buy. Used car purchases made up 78 percent of all Millennial car purchases last year, compared to 68 percent of all car purchases by adults 35 and over. And while Millennials accounted for 39 percent of all traffic to used car pages on Edmunds.com last year, they made up 58 percent of mobile traffic to those same pages.

·         About 72 percent of Millennials also said that they have considered buying a hybrid or electric vehicle, and a forward-thinking 66 percent said that they would consider buying a self-driving vehicle if it hits the market.

·         Four out of every five Millennials believe it’s important to integrate their smartphone features into their car, and 62 percent said that they would pay more money for a WiFi-connected vehicle.

·         But in-car technology is not Millennials’ biggest priority. When asked what car features matter most to them, Millennials ranked technology features such as infotainment and Bluetooth well behind price, fuel economy and performance.

·         About 70 percent of recent Millennial car buyers said that they contacted a dealer via text message during the shopping process, compared to just 43 percent of all other adults.

·         About one out of every three Millennials said they used their phones to find contact info for a local dealership, compared to one out of four adults age 35 and over.

·         Mobile capabilities are especially useful to Millennials for in-dealership activities, such as using calculators to determine monthly payments and evaluating vehicle options and warranties.

Forbes -- Automakers are introducing new, high-tech features considerably faster than many drivers can learn how to use them or even fully understand what they do, according to a couple of recent studies.

But even older consumers see the value in some of the newer features, especially blind-spot warning systems and back-up cameras, according to research from The Hartford insurance company and the Massachusetts Institute of Technology Age Lab.

Nearly all of the respondents in a Hartford/MIT study of drivers ages 50 to 69 said they would be willing to buy a car with at least one of the seven auto technologies in the study: back-up cameras, blind-spot warning systems, collision avoidance systems, lane departure warning systems, smart headlights, parking assistance and adaptive cruise control.

That list is in order of preference, in terms of being linked to safety. Back-up cameras, blind-spot warning systems and collision avoidance were the highest rated.

Collision avoidance systems can bring a car to a complete halt if sensors detect the distance to the car ahead is shrinking too fast, and if the driver either ignores a warning alarm or doesn’t brake hard enough. “Smart” headlights turn the beams in tandem with the steering wheel.

Parking assistance, used in parallel parking only, measures the size of a parking place and moves the steering wheel to direct the car into a space. The driver has to apply the brake and shift when needed.

Read the rest of the story here: http://www.forbes.com/sites/jimhenry/2015/11/28/older-drivers-are-ok-with-tech-features-if-they-improve-safety/?mc_cid=78f79c9d41&mc_eid=4c2ab888bb

Virtual Strategy -- Fifty-five percent of North American automotive aftermarket companies admit their biggest fear is cheaper competition, while 51 percent reveal that when customers leave, the biggest reason is cost. This is according to research published in April 2015 from North America’s leading supplier of sales intelligence software, sales-i.

The 2015 Automotive Aftermarket Industry Trends Report, based on data from 421 executives across the industry, also reveals that face-to-face meetings are still the most successful sales setting, while cold calling brings in the most new business leads. However, the use of social media is on the rise with 72 percent of respondents admitting that it will play a central part in their marketing strategy this year.

Kevin McGirl, President of sales-i, comments: “The big four players across the automotive aftermarket industry dominate just 20 percent of a market that’s worth a whopping $138 billion. That means now is a great time for smaller businesses to stand up and take their share of the market. This survey provides some fascinating insight into what these businesses need to be doing to beat the competition this year!”

Read more at http://www.virtual-strategy.com/2015/04/18/research-sales-i-finds-fifty-five-percent-aftermarket-executives-admit-cheaper-competitio#axzz3Xt0G85vc#FX7EWpjhxj8ccmLw.99